5/19/2019 WTO ministerial meet aims at re-energising multilateral trading system: India - The Economic Times

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As part of reforms in the WTO, the US is arguing that countries which are doing well in
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Prabhu hoped that the initiative will re-endorse the WTO's special and differential treatment
centrality of development in WTO negotiations and (S&DT) norms. Top Trending News
provide suggestions for reforms.
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The S&DT norms provide flexibility to Amit Shah Arun Jaitley Yogi Adityanath ET Prime
developing member countries in the WTO. Under this, they enjoy benefits like higher
domestic support for the agriculture sector and longer time periods for implementing
agreements and binding commitments.

As part of reforms in the WTO, the US is arguing that countries which are doing well in
terms of economic growth and prosperity should not be allowed S&DT benefits.

"The approach of the New Delhi ministerial meeting is to re-energise and strengthen
multilateralism and put in place a more inclusive decision-making process. Towards this
end, it is essential that the collective view of as many developing countries as possible is
formally articulated in submissions on WTO reforms," an official statement said.

Addressing the members on the concluding day, Commerce Minister Suresh Prabhu
hoped that the initiative will re-endorse the centrality of development in WTO negotiations
and provide suggestions for reforms.

He said the principles of non-discrimination, transparency, and the tradition of decision-

making by consensus in the WTO are "too valuable to lose".

There are 7.3 billion people living in developing countries and they cannot and should not
be deprived of the benefits of growth and WTO is an institution, which addresses these
concerns of development and growth of countries through trade and not aid, the minister
added.

"The efforts of the New Delhi ministerial meeting will definitely lead to a WTO which is
better than what it is today," Prabhu said.

In his address last night, WTO Director General Roberto Azevedo said the dispute
https://economictimes.indiatimes.com/news/economy/foreign-trade/wto-ministerial-meet-aims-at-re-energising-multilateral-trading-system-india/ar… 1/3
5/19/2019 WTO ministerial meet aims at re-energising multilateral trading system: India - The Economic Times
settlement crisis is a "deep crisis" and all countries have to look for a resolution.

The US has stalled appointments of members in the appellate body of WTO's dispute
settlement system. The delay in the appointment would hamper the functioning of the
system, which is fundamental for fair global trade as it provides security and predictability
to the multilateral trading system.

He also said that plurilaterals (an agreement between few member countries of the WTO)
should not be seen as a division between developed and developing nations as they
contain members from both the sides.

On the issue of S&DT, he said the special and differential treatment mechanism must be
innovative in order to address the impasse.

"If left unaddressed, it may go either way. The ideal way is to have a bench mark because
the differentiation is already happening and is essential for small developing countries," he
said, adding the best way forward is to have a trade-facilitation-agreement-type model
where countries may set their own benchmarks.

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